Integrated Smart Traffic Management Market: Current Analysis and Forecast (2022-2028)
$3999 – $6999
Emphasis on Offering (Traffic Monitoring, Traffic Control, and Information Provision); Services (Deployment & Integration, Training & Consulting and Support & Maintenance); Hardware (Display Boards, Sensors, Surveillance Cameras, Smart Traffic Lights, Interface Boards, and Others); Applications (Freeway Management System, Electronic Toll Collection (ETC) System, Tunnel Management Systems, Road Safety & Security Systems, The algorithm used by TMS, Parking Management System, and Others); and Region/Country
Detailed Analysis of COVID-19 Impact on the Integrated Smart Traffic Management System Market
Global Integrated Smart Traffic Management Market is expected to grow at a significant rate of around 13% during the forecast period 2022-2028. The Integrated smart traffic control systems market comprises integrated traffic control system manufacturers, technology providers, value-added resellers (VRAs), and service providers. With the increasing involvement of technology in transportation infrastructure, the use and implementation of integrated traffic control systems have become an easier and foremost requirement. This is because an intelligent traffic management system could help cities manage traffic flow more efficiently. The backbone of any intelligent traffic management system is wireless connectivity throughout the city’s infrastructure. Relevant technologies include 4G, 5G, and low power wide area network (LPWAN), catering to the various end-use applications that require different types of networks. Incumbents like Cisco and AT&T are providing cities with 4G and 5G services for traditional high bandwidth applications like traffic signal control, while start-ups like Sigfox and Actility have developed Low Power Wide Area Network (LPWAN) technologies to support the influx of low power sensors.
Kapsch Traffic Com AG; Iteris, Inc.; Cisco Systems, Inc.; Thales; Cubic Corporation; TomTom International BV; Siemens AG; EFKON GmbH; SWARCO; and IBM. are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst offering, traffic control to grow with significant CAGR during the forecast period”
Based on the offering, the market is segmented into traffic monitoring, traffic control, and information provision. The traffic control category is expected to witness a high CAGR during the forecast period. Traffic control is a critical element in the safe and efficient operation of any transportation system. Elaborate operational procedures, rules and laws, and physical devices (e.g., signs, markings, and lights) are but a few of the components of any traffic control system. road traffic control includes the layout of streets to serve a variety of travel needs in a region. Highways or expressways carry through traffic at high speed; arterial streets carry traffic within and across urban areas; and local streets provide low-speed travel but access to many local destinations.
Integrated Smart Traffic Management Market Report Coverage
“Amongst services, the deployment and integration to hold a significant share in the market in 2021.”
Based on service type, the market is categorized into deployment & integration, training & consulting, and support & maintenance. The deployment and integration segment held the maximum share of the market in 2021. Deployment and integration services help in reducing the deployment and integration time. These services are crucial for developing end-to-end traffic smart signaling, route guidance, traffic analytics, and smart surveillance solutions for the traffic management market. The increasing requirement for upgrading traditional traffic management systems to support various smart cities and traffic management drives the deployment and integration services segment in the traffic management market. Thus, these above-mentioned factors are driving segmental growth.
“North America accounts for the major share of the market in 2021”
North America accounts for the major share of the global integrated smart traffic management market. The U.S. Department of Transportation (DOT) is aggressively investing in research and development, implementation, and adoption of intelligent traffic management systems across the country. The strong emphasis of various government initiatives in the region is improving transportation infrastructure is driving the adoption of intelligent traffic management systems. Apart from this, the rising adoption of mobile phones and radio featuring short-range dedicated technology enables drivers across the region, driving the demand for integrated smart traffic management during the forecast period.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
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|Research Process of the Integrated Smart Traffic Management Market
|Research Methodology of the Integrated Smart Traffic Management Market
|IMPACT OF COVID-19 ON THE INTEGRATED SMART TRAFFIC MANAGEMENT MARKET
|INTEGRATED SMART TRAFFIC MANAGEMENT MARKET REVENUE (USD BN), 2020-2028F
|Deployment and Integration
|Training & Consulting
|Support and Maintenance
|Smart Traffic Lights
|Others Hardware Market
|Freeway Management System
|Electronic Toll Collection (ETC) System
|Tunnel Management Systems
|Road Safety & Security Systems
|The algorithm used by TMS
|Parking Management System
|Other Systems (Freight Management Systems & Others)
|Middle-East & Africa
|INTEGRATED SMART TRAFFIC MANAGEMENT MARKET OPPORTUNITIES
|INTEGRATED SMART TRAFFIC MANAGEMENT MARKET TRENDS
|Demand Side Analysis
|Supply Side Analysis
|VALUE CHAIN ANALYSIS
|Porters Fiver Forces Analysis
|Kapsch Traffic Com AG
|Cisco Systems, Inc.
Research Methodology for the Integrated Smart Traffic Management Market Analysis (2022-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global integrated smart traffic management market were the three major steps undertaken to create and analyze the adoption of integrated smart traffic management in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global integrated smart traffic management market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the integrated smart traffic management market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the integrated smart traffic management market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as offering, services, hardware, and application. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the integrated smart traffic management market. Further, we conducted factor analysis using dependent and independent variables such as offering, services, hardware, and application of integrated smart traffic management. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the integrated smart traffic management market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global integrated smart traffic management market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the integrated smart traffic management market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global integrated smart traffic management market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global integrated smart traffic management market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of offering, services, hardware, and application in the global integrated smart traffic management market.
The main objective of the Global Integrated Smart Traffic Management Market Study
The current & future market trends of the global integrated smart traffic management market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the integrated smart traffic management market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of offering, services, hardware, and application
- Define and analysis of the regulatory framework for the integrated smart traffic management industry
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
- Analyze the current and forecast market size of the integrated smart traffic management market for the major region
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World
- Company profiles of the integrated smart traffic management market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry